Mayor Bill de Blasio, Comptroller Scott M. Stringer and other trustees of the city’s $189 billion pension funds announced today a plan to divest city funds from fossil fuel reserve owners within five years, which would make New York City the first major U.S. pension plan to do so. In total, the city’s five pension funds hold roughly $5 billion
ExxonMobil Corp. lambasted New York Attorney General Eric Schneiderman after he made what Exxon calls, “inflammatory, reckless, and false allegations,” regarding the manner in which the company evaluates the impact of global warming on its assets and operations. The NY AG’s stance is that ExxonMobil misled investigators in its use of proxy costs to estimate carbon impact. ExxonMobil uses proxy
North American bus manufacturing giant New Flyer Industries Inc. (ticker: NFI), announced on Monday that it contracted with New York City Transit Authority (NYCT) to deliver 110 heavy-duty 60-foot articulated buses—fueled with compressed natural gas (CNG). The state-funded contract, a firm order for 110 XN60 Xcelsior CNG-powered buses, is valued at US $95 million, the company said in a press release. New
The decision follows the release of the DEC’s 1,448-page report on hydraulic fracturing New York Department of Environmental Conservation (DEC) Commissioner Joe Martens announced today that hydraulic fracturing would be formally banned in the state of New York. The announcement comes after seven years of study by the DEC and the release of their 1,448-page report, which was released prior
Southern Tier threatens to leave NY for PA: Everybody over the border has new cars, new roofs, new siding Following a decision in December of last year to ban hydraulic fracturing in New York, several towns in New York’s Southern Tier are threatening to secede from the state in order to join Pennsylvania. The towns sit on top of a
Listed below are gas prices for the Denver, Houston and New York metropolitan areas for 2014. All have dropped roughly $1.00 on a year-over-year basis, with prices in Denver and Houston dropping by roughly 33% compared to last December and as much as 45% since the summer. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom,
New York health officials say they will not recommend lifting the frac ban The prospects of using hydraulic fracturing to produce natural gas from the highly productive Marcellus shale basin in the state of New York now seem completely dead. New York health officials released their findings on the practice of hydraulic well stimulation, saying they believe that the long
The Utica is growing. Royal Dutch Shell (ticker: RDS.B) successfully drilled two Utica wells 100 miles northeast of the nearest producer in the play, the company announced in a press release on September 3, 2014. The wells, located in Tioga County, Pennsylvania, not only extend the sweet spot of the play, but are “comparable to the best publically announced thus
Fred Upton, Chairman of the House Energy & Commerce Committee, referenced this week’s Fox News special report entitled “No Fracking, No Boom” in his blog update today. The blog compared the jobs-driven economic uplift in Pennsylvania to New York’s southern counties’ six year employment decline in the absence of shale development in his blog post today. The Chairman’s state of
Almost half of the state of New York is underlain by the Marcellus shale, the nation’s most prolific natural gas deposit. But thanks to a long running delay in permitting—to study hydraulic fracturing—ever since 2008, the State of New York has dragged its feet on shale development. In doing so it has kept landowners, citizens, municipalities and itself from benefiting
According to the Associated Press, The Department of Environmental Conservation has drafted regulations that will allow the buildout of LNG truck-fueling stations and other types of LNG storage plants. The agency expects the plans to be finalized by early next year and estimates about 21 fueling stations will be built over the next five years. LNG has become an increasingly
